APRIL 23, 2009

Wheatcroft takes legal action against Donington Ventures

Wheatcroft & Son Limited, the owners of Donington Park motor racing circuit, have initiated legal proceedings against Donington Ventures Leisure Ltd, the operators of the circuit, seeking $3.6m in rent arrears and to take control of the circuit once again. Lawyers at Browne Jacobson LLP, acting on behalf of their client Wheatcroft & Son Limited, issued the proceedings at Derby County Court earlier today.

Wheatcroft & Son Limited awarded Donington Ventures Leisure Ltd a 150-year lease back in January 2007. Donington Park, has since been awarded a 10-year contract to host the British Grand Prix from 2010.

"It is with great reluctance that we have taken this decision," said Kevin Wheatcroft. "Donington Ventures Leisure Ltd owe us nearly £2.5m in rent dating back to September 2008. Despite receiving numerous reassurances over a number of months they have consistently failed to meet their financial obligations under the terms of the lease. We have held off taking legal action for as long as possible but have been left with no choice but to commence proceedings to recover the outstanding rent and forfeit the lease."